Greek Bonds Soar on Debt Buy-Back Plans

By

Neelabh Chaturvedi

Updated Dec. 3, 2012 4:28 a.m. ET

Greek government bonds Monday rose sharply to their highest levels since the debt restructuring in March after the government said it will buy back bonds at prices that were much higher than some investors had expected.

The price of the 2023 Greek bond rose to 38.19 cents to a euro, pushing the yield on the bond a percentage point below Friday's close at 14.94%, the lowest level since March. The price of the 2042 bond climbed to...